High Yield Corporate Bond Market Summary – Week Ending 2/14/25
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High Yield Corporate Bond Market Summary: Week Ending 2/14/25
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
Forward Calendar
The following are lists of upcoming high-yield corporate bond offerings in the United States
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Brightspeed | $1.865 billion senior secured notes | Q1 2025 |
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 2/7/25 – 2/14/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | KPERST 6.5 9/1/2026 REGS | 6.50% | 09/01/26 | 22.14% | 78.99 | 64.67 | 21 |
| 2 | SBBBSS 2.625 PERP | 2.63% | NULL | 9.90% | 66.82 | 60.80 | 15 |
| 3 | NWDEVL 4.65 3/16/2026 | 4.65% | 03/16/26 | 9.79% | 65.31 | 59.48 | 6 |
| 4 | ATOFP 5 12/18/2030 | 5.00% | 12/18/30 | 8.05% | 71.10 | 65.80 | 20 |
| 5 | METINV 7.65 10/1/2027 REGS | 7.65% | 10/01/27 | 7.16% | 83.90 | 78.30 | 17 |
| 6 | MANTEN 7.25 2/1/2026 REGS | 7.25% | 02/01/26 | 7.09% | 99.33 | 92.75 | 20 |
| 7 | ROADKG 5.125 1/26/2030 | 5.13% | 01/26/30 | 6.65% | 38.17 | 35.79 | 19 |
| 8 | PZZA 3.875 9/15/2029 144A | 3.88% | 09/15/29 | 6.58% | 96.96 | 90.97 | 21 |
| 9 | AMSSW 10.5 3/30/2029 REGS | 10.50% | 03/30/29 | 6.15% | 102.91 | 96.94 | 24 |
| 10 | SFRFP 4 2/15/2028 REGS | 4.00% | 02/15/28 | 6.04% | 25.87 | 24.40 | 16 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 2/7/25 – 2/14/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | ECUA 5.5 7/31/2035 144A | 5.50% | 07/31/35 | -18.72% | 54.54 | 67.09 | 19 |
| 2 | EMBARQ 7.995 6/1/2036 | 8.00% | 06/01/36 | -9.30% | 48.95 | 53.96 | 14 |
| 3 | ARGID 5.25 8/15/2027 REGS | 5.25% | 08/15/27 | -6.43% | 50.27 | 53.72 | 17 |
| 4 | CYH 6.125 4/1/2030 144A | 6.13% | 04/01/30 | -5.46% | 63.44 | 67.11 | 23 |
| 5 | HLF 4.875 6/1/2029 144A | 4.88% | 06/01/29 | -5.23% | 65.04 | 68.63 | 26 |
| 6 | NOVA 5.875 9/1/2026 144A | 5.88% | 09/01/26 | -5.01% | 75.81 | 79.82 | 19 |
| 7 | NWL 7 4/1/2046 | 7.00% | 04/01/46 | -4.98% | 91.35 | 96.14 | 10 |
| 8 | HTZ 5 12/1/2029 144A | 5.00% | 12/01/29 | -4.71% | 68.10 | 71.47 | 27 |
| 9 | NFE 8.75 3/15/2029 144A | 8.75% | 03/15/29 | -4.71% | 87.39 | 91.70 | 27 |
| 10 | FRAX 7.1 9/30/2029 144A | 7.10% | 09/30/29 | -4.66% | 62.75 | 65.82 | 11 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 2/7/25 – 2/14/25 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of HY Corps increasing in price (advancers) vs. HY Corps decreasing in price (decliners) between 2/7/25 – 2/14/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 2/7/25 vs. the week ending 2/14/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ADNT 7.5 2/15/2033 REGS | 7.50% | 02/15/33 | 115 | 255 | 140 | 122% |
| 2 | JANEST 6.125 11/1/2032 144A | 6.13% | 11/01/32 | 12 | 136 | 124 | 1033% |
| 3 | ADNT 7.5 2/15/2033 144A | 7.50% | 02/15/33 | 155 | 255 | 100 | 65% |
| 4 | MLTPLN 5.75 12/31/2030 144A | 5.75% | 12/31/30 | 47 | 128 | 81 | 172% |
| 5 | DOMREP 4.875 9/23/2032 144A | 4.88% | 09/23/32 | 10 | 84 | 74 | 740% |
| 6 | FABSJV 6.15 1/25/2032 | 6.15% | 01/25/32 | 207 | 281 | 74 | 36% |
| 7 | DTV 5.875 8/15/2027 144A | 5.88% | 08/15/27 | 231 | 300 | 69 | 30% |
| 8 | ADLFIN 8.25 12/31/2028 | 8.25% | 12/31/28 | 78 | 138 | 60 | 77% |
| 9 | AZUBBZ 11.5 8/28/2029 144A | 11.50% | 08/28/29 | 33 | 90 | 57 | 173% |
| 10 | PFGC 5.5 10/15/2027 144A | 5.50% | 10/15/27 | 212 | 268 | 56 | 26% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 2/7/25 – 2/14/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | APA 6.75 2/15/2055 144A | 6.75% | 02/15/55 | 37 |
| 2 | F 6.5 2/7/2035 | 6.50% | 02/07/35 | 37 |
| 3 | UBS 7 PERP | 7.00% | NULL | 36 |
| 4 | F 5.875 11/7/2029 | 5.88% | 11/07/29 | 36 |
| 5 | SANTAN 9.625 PERP | 9.63% | 11/21/99 | 35 |
| 6 | F 6.1 8/19/2032 | 6.10% | 08/19/32 | 35 |
| 7 | F 5.303 9/6/2029 | 5.30% | 09/06/29 | 35 |
| 8 | TMUS 5.15 4/15/2034 | 5.15% | 04/15/34 | 35 |
| 9 | INTNED 7.25 PERP | 7.25% | NULL | 34 |
| 10 | DVN 5.75 9/15/2054 | 5.75% | 09/15/54 | 34 |
Bid-Offer Spread by Industry
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 2/7/25 – 2/14/25
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